Marriott International (NASDAQ:MAR) Price Target Raised to $330.00

Marriott International (NASDAQ:MAR) had its price objective boosted by Argus from $300.00 to $330.00 in a research note issued to investors on Thursday,Benzinga reports. Argus currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on MAR. The Goldman Sachs Group increased their price target on Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Truist Financial increased their price target on Marriott International from $254.00 to $277.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their target price on shares of Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a report on Thursday, January 2nd. Sanford C. Bernstein increased their price target on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus increased their price target on Marriott International from $252.00 to $283.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $272.15.

Marriott International Price Performance

Marriott International stock opened at $277.18 on Thursday. The firm has a 50-day moving average of $282.53 and a 200-day moving average of $255.91. The company has a market cap of $77.03 billion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 4.48 and a beta of 1.57. Marriott International has a one year low of $204.55 and a one year high of $295.45.

Marriott International (NASDAQ:MAR) last issued its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the previous year, the company posted $2.11 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts expect that Marriott International will post 9.25 earnings per share for the current year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.91%. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

Insider Transactions at Marriott International

In related news, CEO Anthony Capuano sold 8,332 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total value of $2,370,370.68. Following the sale, the chief executive officer now directly owns 108,361 shares in the company, valued at approximately $30,827,620.89. The trade was a 7.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,815 shares of company stock worth $3,919,739 in the last quarter. Insiders own 10.07% of the company’s stock.

Hedge Funds Weigh In On Marriott International

Hedge funds have recently made changes to their positions in the stock. PointState Capital LP purchased a new stake in Marriott International in the 3rd quarter worth approximately $98,249,000. Canoe Financial LP purchased a new stake in shares of Marriott International in the third quarter worth $77,331,000. International Assets Investment Management LLC grew its position in Marriott International by 15,148.3% during the third quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock worth $75,208,000 after buying an additional 300,543 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Marriott International by 341.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 381,226 shares of the company’s stock worth $106,339,000 after acquiring an additional 294,898 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Marriott International by 36,856.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock valued at $58,346,000 after acquiring an additional 240,674 shares during the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

About Marriott International

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.